CSX (NASDAQ:CSX) Given New $34.00 Price Target at Wells Fargo & Company

CSX (NASDAQ:CSX) had its target price lifted by investment analysts at Wells Fargo & Company from $33.00 to $34.00 in a research note issued to investors on Thursday, Briefing.com reports. The brokerage presently has an “equal weight” rating on the transportation company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 3.16% from the company’s previous close.

CSX has been the topic of several other reports. Royal Bank of Canada boosted their target price on shares of CSX from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Thursday. raised shares of CSX from a “neutral” rating to a “buy” rating in a research note on Tuesday, June 29th. Atlantic Securities began coverage on shares of CSX in a research note on Monday, July 12th. They issued an “overweight” rating and a $40.00 price target on the stock. Susquehanna upped their price target on shares of CSX from $37.00 to $38.00 and gave the stock a “positive” rating in a research note on Thursday. Finally, UBS Group upped their price target on shares of CSX from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nineteen have assigned a buy rating to the company. CSX has a consensus rating of “Buy” and a consensus price target of $34.25.

NASDAQ:CSX traded up $1.39 during trading hours on Thursday, hitting $32.96. 444,978 shares of the stock traded hands, compared to its average volume of 12,206,381. The business’s 50 day simple moving average is $33.69. The company has a current ratio of 2.39, a quick ratio of 2.23 and a debt-to-equity ratio of 1.24. CSX has a fifty-two week low of $22.69 and a fifty-two week high of $34.96. The firm has a market capitalization of $74.89 billion, a price-to-earnings ratio of 27.93, a price-to-earnings-growth ratio of 1.98 and a beta of 1.16.

CSX (NASDAQ:CSX) last announced its earnings results on Tuesday, July 20th. The transportation company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.02. CSX had a net margin of 25.62% and a return on equity of 21.42%. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the previous year, the business earned $0.22 EPS. The company’s revenue was up 32.6% on a year-over-year basis. Equities analysts anticipate that CSX will post 1.45 EPS for the current fiscal year.

In other CSX news, EVP Mark Kenneth Wallace sold 47,966 shares of the company’s stock in a transaction dated Monday, May 10th. The shares were sold at an average price of $104.38, for a total transaction of $5,006,691.08. Following the completion of the sale, the executive vice president now directly owns 110,876 shares in the company, valued at $11,573,236.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul C. Hilal sold 1,411,705 shares of the company’s stock in a transaction dated Wednesday, April 28th. The shares were sold at an average price of $100.93, for a total transaction of $142,483,385.65. Following the sale, the director now owns 12,399 shares of the company’s stock, valued at $1,251,431.07. The disclosure for this sale can be found here. Insiders have sold 1,996,015 shares of company stock valued at $201,411,409 over the last 90 days. Corporate insiders own 0.60% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vantage Consulting Group Inc bought a new stake in shares of CSX in the fourth quarter valued at about $30,000. Grant Street Asset Management Inc. bought a new stake in shares of CSX in the fourth quarter valued at about $32,000. Cypress Capital Management LLC WY bought a new stake in shares of CSX in the first quarter valued at about $43,000. Evoke Wealth LLC lifted its stake in shares of CSX by 94.6% in the first quarter. Evoke Wealth LLC now owns 471 shares of the transportation company’s stock valued at $45,000 after buying an additional 229 shares during the period. Finally, Godsey & Gibb Associates bought a new stake in shares of CSX in the first quarter valued at about $52,000. Institutional investors and hedge funds own 73.11% of the company’s stock.

CSX Company Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It transports chemicals, agricultural and food products, automotive, minerals, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.

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